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Presented below is a partial trial balance for the Alias Corporation at December 31, 2021. Account...

Presented below is a partial trial balance for the Alias Corporation at December 31, 2021.

Account DBT CRT
Cash 30,000
Cash tied to repayment of bands payable 100,000
AR 195,000
Allowance for Doubtful Accounts 24,000
Notes Receivable (due Nov. 1 2022) 120,000
Interest Receivable (on Notes Receavable) 4,000
Raw Materials Inventory 36,000
Work in Process Inventory 38,000
Finished Goods Inventory 98,000
Marketable Securities 48,000
Prepaid Insurance (exp June 30, 2022) 60,000
Land 100,000
Buildings 1,500,000
Equipment 400,000
Accumulated Dep. - Bldg 740,000
Accumulated Dep - Eqmt 230,000
Patents (net of amortization) 120,000
Unearned Revenue 48,000
Bonds Payable (mat. sept. 30 2025) 500,000
Interest Payable (on bonds) 7,000
Accounts Payable 240,000
Salaries Payable 6,000

Additional information:

- Interest receivable on the notes is due every six months.

-Interest payable on bonds is due every March 31st and September 30th.

-Management does not intend to sell any of its marketable securities in the next year.

-Unearned revenue will be earned equally over the next eighteen months.

What are the total current assets, current liabilities and total assets December 31, 2021??

Business   Accounting   
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Answer #1
Current Assets
Cash 30000
Accounts Receivable 195000
Less: Allowance 24000 171000
Notes Receivable 120000
Interest Receivable 4000
Raw Material 36000
WIP Inventory 38000
Finished Goods 98000
Prepaid Insurance 60000
Total 557000
Fixed Assets
Land 100000
Building 1500000
Less: Depreciation 740000 760000
Equipment 400000
Less: Depreciation 230000 170000
Cash tied to repayment of bands payable 100000
Patents 120000
Marketable Securities 48000
Total 1298000
Total Assets 1855000
Current Liabilities
Unearned Revenue 48000*12/18 32000
Interest on Bonds 7000
Accounts Payable 240000
Salaries 6000
Total 285000
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